New Market Research Report: Bulgaria Autos Report Q4 2013

From: Fast Market Research, Inc.
Published: Tue Sep 17 2013


Passenger car sales in Bulgaria declined by 9.9% y-o-y in H113, to 8,971 units (although this figure may be subject to upward or downward revision, due to the unreliability of the statistics). In 2013, we expect private consumption to remain weak on the back of prolonged political uncertainty exacerbating existing dynamics in the labour market. The weak sales figures year-to-date and our bearish outlook for consumer sentiment have informed our forecast for a 7.8% drop over the year.

Indeed, passenger car sales in Bulgaria have declined considerably from their 2008 levels, when sales hit some 43,000 units. Sales in this segment have remained relatively weak since then, and we do not see the market reaching these levels again over our forecast period to 2017.

In December 2012, Chinese auto manufacturer Build Your Dreams (BYD) and Bulgarian manufacturer Bulmineral announced that they are to jointly construct an auto assembly plant in Sofia to produce electric cars and electric buses. BMI believes that the European electric vehicle (EV) market is set to receive considerable investment from international auto manufacturers over the medium term on the back of increasing sales and government incentives for sale and production. Further, we believe that Bulgaria may attract further investment from auto manufacturers on the back of ongoing investments in the region as companies continue to pivot from Western Europe.

Full Report Details at
- http://www.fastmr.com/prod/673272_bulgaria_autos_report_q4_2013.aspx?afid=303

Construction is expected to be fully completed in 2015, and will have an annual output capacity of 50,000 vehicles.

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- Japan Autos Report Q4 2013
- Algeria Autos Report Q4 2013
- Brazil Autos Report Q4 2013
- China Autos Report Q4 2013
- Venezuela Autos Report Q4 2013
Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »